Accra, November 2017//-Oil exploration and production (E&P) companies will not pay the government any corporate income taxes (CIT) in 2018 after getting approval to recoup the about US$11.9 billion that was invested in the Tweneboa, Enyenra and Ntomme (TEN) and the Sankofa Gye Nyame fields.
Ghana’s President Nana Addo Dankwa Akufo-Addo says the recent judgement of the International Tribunal of the Law of the Sea (ITLOS), over Ghana and Ivory Coast’s maritime border dispute, has strengthened the relationship between the two countries.
Accra, September 25, 2017//-Increased oil production in Ghana is boosting energy sector revenues and helping shore up finances after three years of sluggish economic growth and persistent budget shortfalls.
Total assets of banks operating in Ghana have risen significantly at the time that the Ghanaian economy is reported to be recovering.
Bank of Ghana (BoG) has revealed that provisional data on the trade account during the first two months of 2017 pointed to a surplus of US$573.0 million compared to a deficit of US$574.1 million same period in 2016.
The oil and gas sector, globally continues to be a major boost for economic growth for countries that are able to effectively manage the resource.
THE production of first oil from Tullow Oil Plc’s Jubilee Field in late 2010 marked Ghana’s emergence as a new player in Africa’s energy industry.
